Tech industry news this week saw a mix of high-profile investments, political maneuvering, and social media controversy. From the Super Bowl attracting tech titans to an NBA star's investment in a prediction market, and a proposed moratorium on data centers, the landscape is shifting.
The Super Bowl, held in Silicon Valley this past Sunday, drew a crowd of tech executives, including YouTube CEO Neal Mohan and Apple's Tim Cook, according to TechCrunch. The event highlighted the intersection of tech and sports, with venture capitalist Venky Ganesan of Menlo Ventures commenting on the scene, stating it was "tech billionaires who got picked last in gym class paying $50,000 to pretend they're friends with the guys who got picked first."
In other news, NBA star Giannis Antetokounmpo announced he had joined prediction market Kalshi as a shareholder, becoming the first NBA player to invest directly in the company, as reported by TechCrunch. Antetokounmpo stated on social media, "I decided it was time to make some of my own. Today, I'm joining Kalshi as a shareholder. We all on Kalshi now." However, the announcement was met with criticism on social media, with some users citing potential conflicts of interest. The Athletic reported that the NBA's recent collective bargaining agreement allows players to advertise and take stakes of up to 1% in sports betting companies, provided they are not involved in the company's operations.
Meanwhile, New York lawmakers introduced a bill proposing a three-year moratorium on permits for new data centers, according to TechCrunch. The bill, which is at least the sixth state to consider such a pause, reflects growing concerns about the environmental impact of data centers. Critics, including Senator Bernie Sanders and Governor Ron DeSantis, have voiced concerns about the impact on surrounding communities.
In the realm of AI, chipmaker Cerebras Systems announced it had raised $1 billion in fresh capital, reaching a valuation of $23 billion, according to TechCrunch. Benchmark Capital, a long-time investor, contributed at least $225 million to the round.
Finally, an AI startup founder is planning a "March for Billionaires" in San Francisco to protest California's proposed wealth tax, TechCrunch reported. The event, scheduled for the upcoming Saturday, has generated mixed reactions, with many initially assuming it was a hoax. The organizer confirmed the march was not a joke, highlighting the ongoing debate over the proposed tax.
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